Option traders moderately bearish in Micron with shares down 1.73%

Option traders moderately bearish in Micron (MU), with shares down $7.29 near $413.30. Options volume relatively light with 134k contracts traded and calls leading puts for a put/call ratio of 0.7, compared to a typical level near 0.74. Implied volatility (IV30) is higher by 0.1 points near 70.67,in the top quartile of the past year, suggesting an expected daily move of $18.40. Put-call skew steepened, indicating increased demand for downside protection.